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Medical emergencies often come with a financial burden for your family. This is where critical illness insurance comes in.
It takes care of medical expenses not covered by traditional health insurance and helps you cover expenses, like lifestyle changes, home adaption, and childcare.
If you are thinking about buying critical illness insurance, ivari is one name worth considering. They offer both basic and comprehensive coverage, along with multiple term options and valuable add-ons. Let's dive into our in-depth review to find out more.
Our ivari Critical Illness Insurance Review
ivari offers up to $2 million in critical illness benefits, covering 25 conditions for enhanced coverage and 4 conditions for basic coverage.
Three coverage terms are available: 10 years, 20 years, and up to age 65.
The early payout benefit and return of premium riders are optional benefits offered with the 25-condition coverage. You get a premium discount (up to 15%) if you add the critical illness insurance rider to your existing term life insurance plan.
Who is ivari?
For 90 years, ivari has provided Canadians with quality insurance and investment solutions. Through its wide network of advisors, it provides a full range of insurance solutions to customers across Canada. B
esides critical illness insurance, ivari is known for its affordable term and universal life insurance plans.
ivari Critical Illness Insurance Product Offering
ivari offers both basic and comprehensive critical illness coverage. Its basic critical illness cover pays a lump-sum benefit for four conditions: heart attack, stroke, cancer (life-threatening), and coronary artery bypass surgery.
The comprehensive coverage, in contrast, covers 25 conditions plus five childhood conditions until the insured’s 24th birthday. Apart from the critical illness protection benefit, ivari’s 25-condition coverage offers two additional benefits:
- Early detection benefit: Pays a one-time benefit if you are diagnosed with one of the Early Detection Covered Conditions.
- Return of premium on death: Pays a one-time benefit upon the insured’s death, provided the critical illness benefit has not been paid.
As an ivari policyholder, you get free access to Virtual Healthcare by Maple. Maple telemedicine allows you to consult a doctor or healthcare specialist online quickly.
Both the 4-condition and 25-condition coverage offer the following term options:
- Term 10: Your premiums increase every 10 years until age 75.
- Term 20: Premiums change every 20 years until age 75.
- Term to age 65: Your premiums remain the same throughout the duration of the policy, that is, until your 65th birthday.
Why get ivari Critical Illness Insurance?
No one plans for a critical illness, but having adequate protection during a medical emergency can ensure financial support when you need it most. With the cost of treatment for critical illness being substantially high, a comprehensive policy like ivari’s critical illness insurance plan can be a lifesaver. It can help pay expenses such as:
- Treatment costs not covered by traditional health insurance
- In-home care
- Loss of income
- Rent or mortgage
- Childcare
- Groceries
- Home adaptions
- Loan payments
In short, critical illness insurance gives you peace of mind that you will be able to access quality healthcare services should a severe illness strike you without taking money out of a savings or retirement account.
Applying for Ivari Critical Illness Insurance
Interested in ivari critical illness insurance? Simply Click the Check My Price button to get a free quote or schedule a call with an advisor to start the application process.
How much does ivari Critical Illness cost?
Providing an exact price range for ivari critical illness insurance is challenging. That’s because premium rates are based on many factors, some of which are unique to the applicant.
How much you will pay for ivari critical illness coverage depends on factors such as:
- Age
- Overall health
- Pre-existing conditions
- Smoking
- Coverage amount and policy term
- Riders
You can reduce the cost of coverage by applying as early in life as possible. Giving up smoking and selecting only those riders that you truly need can also help keep the cost low.
If you want a precise quote for ivari critical illness cover, consult a Dundas Life advisor today.
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Find the best rates
Conclusion
ivari critical illness cover provides a safety net for out-of-pocket medical expenses and lifestyle changes for you and your loved ones during challenging times.
Its 4-condition coverage can be a good option for cost conscious buyers, while the 25-condition coverage may be ideal for those seeking comprehensive protection against a wide range of illnesses and conditions. However, if you want permanent coverage, a limited-pay option, or the second event rider, look elsewhere.
Dundas Life can get you personalized price quotes from multiple providers, so that you can understand the cost variations and benefits across policies and pick the one that best aligns with your specific needs.
FAQs
Does ivari critical illness insurance offer return of premium?
ivari offers the return of premium on death rider, but not the return of premium on expiry/cancellation rider. The return of premium on death rider ensures a premium refund if you die without collecting critical illness benefits.
In contrast, the return of premium on expiry/cancellation rider ensures the return of eligible premiums to you upon policy cancellation or expiry, provided no claim was filed.
Can I cancel my ivari critical illness insurance policy if my circumstances change?
Yes, you can cancel your plan if your circumstances change. Review the policy terms and conditions for details regarding cancellation, potential fees, and any applicable refund of premiums.
Are there any specific medical tests or exams required to qualify for ivari critical illness insurance?
ivari offers both basic and enhanced critical illness insurance. The basic plan doesn’t require a medical exam, but the comprehensive plan does.
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